What’s Really Happening in the Kelowna Real Estate Market?
While major Canadian cities like Toronto and Vancouver saw big drops in sales this February—down 28% and 14%—Kelowna’s real estate market is holding strong.
➡️ Sales in Kelowna are up 23% from February to March.
➡️ We’re also seeing an 11% increase in sales year-over-year, showing growing buyer confidence.
➡️ Inventory rose by 14%, giving buyers more choice, especially in single-family homes and townhomes.
Despite more listings, home prices in Kelowna are stable or rising, especially in the single-family and townhome segments. This makes it a good time for home sellers in Kelowna to consider listing, especially if they price smartly.
Bill 44 & Infill Development in Kelowna
Developers and home builders take note: Bill 44 is a game changer.
The province’s new density rules could allow Kelowna to add over 26,000 new homes—many through infill multifamily projects in established neighborhoods.
What This Means:
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Some development lot prices are softening due to future supply.
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Land assemblies and infill opportunities are gaining interest.
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But uncertainty remains—smart planning and location matter more than ever.
If you're a builder looking to maximize land value in Kelowna, now is the time to act—but also to proceed carefully.
For Buyers: More Choice, Less Competition?
With over 3,500 active listings and interest rates showing signs of easing, this spring may offer:
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More options
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Less pressure
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And still-steady pricing for long-term value.
If you’re buying a home in Kelowna, especially a townhome or apartment, the market is opening up. Just be aware: condo prices are fluctuating due to higher inventory and tighter short-term rental rules.
📊 March 2025 – Kelowna Real Estate Market Statistics
Total Sales
Sales: 351
New Listings: 1,266
Current Inventory: 3,540
Median Days to Sell: 41
Average Days to Sell: 65
Months of Inventory: 10
Median Sale Price: $728,000
Average Sale Price: $845,087
Total Volume: $293,625,370
Single Family Sales
Sales: 160
New Listings: 616
Current Inventory: 1,588
Median Days to Sell: 37
Average Days to Sell: 60
Months Inventory:10
Median Sale Price: $1,040,000
Average Sale Price: $1,215,528
Total Volume: $194,484,422
Townhome Sales
Sales: 61
New Listings: 160
Current Inventory: 431
Median Days to Sell:31
Average Days to Sell: 53
Months of Inventory: 7
Median Sale Price: $720,000
Average Sale Price: $750,493
Total Volume: $45,780,085
Apartment Sales
Sales:92
New Listings: 312
Current Inventory: 811
Median Days to Sell: 42
Average Days to Sell: 66
Months of Inventory: 9
Median Sale Price: $414,000
Average Sale Price: $443,684
Total Volume: $40,818,925
🔍 What Does This Mean for You?
🏠 Thinking of Selling in Kelowna?
The spring market is active, especially in the single-family and townhome segments. Pricing right from the start matters more than ever.
🏗️ Are You a Developer or Builder?
Bill 44 brings new infill development potential. Get strategic about land use—talk to experts who know the Kelowna zoning and development process.
👨👩👧👦 Looking to Buy a Home in Kelowna?
Whether it’s a family home in Lake Country or an apartment in Downtown Kelowna, now’s a good time to explore. More listings mean more negotiating power.
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📞 Questions about buying, selling, or developing in Kelowna?
Call Mark Coons at 778-744-0872 or email [email protected]
